Court : Income Tax Appellate Tribunal ITAT West Bengal
1. As several common issues are involved in all these appeals, we propose to dispose of these appeals by a common order for the sake of convenience.2. Deducibility of liability arising out of Bhopal accident - This issue is common in all the appeals other than ITA Nos. 108 and 2184 (Cal.) of 1993 and 1339 (Cal.) of 1997. Facts and circumstances leading to the dispute are as follows: Assessee-company derives income from manufacture and sale of batteries, chemicals, pesticides, etc. having its registered office at Calcutta and factories and branches located at several places in India. Union Carbide Corporation, USA is its parent company having majority shareholding. For the assessment year 1985-86, the previous year of the assessee ended on 25-12-1984. However, for the assessment year 1989-90 onwards, due to introduction of uniform previous year, financial year became the previous year.3. On the fateful night of 2nd December, 1984, there was an unprecedented occurrence in the company's ...
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